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SEC Tells Fund Investors to Keep Their Heads

Looking back on a year in which 177 mutual funds posted triple-digit returns, the Securities Exchange Commission says investors shouldn't expect assets to double every year.

Last year made picking mutual funds seem easy. All you had to do was grab something related to technology and, in most cases, watch your money double.

On Monday, however, the nation's top securities regulator took the unusual step of warning investors not to get too giddy about last year's returns. Past performance, no matter how phenomenal, does not guarantee future success, the SEC cautioned.

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